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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 24, 1996
Datalogix International Inc.
(Exact name of registrant as specified in its charter)
New York
(State or other jurisdiction of incorporation)
000-26000 13-3132256
(Commission File Number) (I.R.S. Employer Identification No.).
100 Summit Lake Drive
Valhalla, New York 10595
(Address of principal executive offices)
Registrant's telephone number, including
area code: (914) 747-2900
Not Applicable
(Former name or former address, if changed since last report.)
Page 1 of 3 Pages
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Item 5. Other Events.
The Company has previously announced that it expects to report a loss
of approximately $8.0 million for its fiscal year ended June 30, 1996,
including losses relating to the restatement of its financial statements for
the first and second fiscal quarters of 1996. These financial statements were
restated due to accounting irregularities which necessitated the elimination
of a reseller transaction that was subsequently determined not to be in
accordance with Company policies, to reverse a credit against royalties to
Oracle Corporation and to record as compensation certain expenses related to a
former employee. As a result of these restatements, the Company's Board of
Directors has retained outside counsel to conduct a review of the facts and
circumstances surrounding these matters and in addition the Company's business
practices and procedures.
Set forth below is certain information relating to such restatement
of the Company's financial statements for the first and second fiscal quarters
of 1996 (in thousands except per share data):
<TABLE>
<CAPTION>
Per the Quarter Ended
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September 30, December 31,
Fiscal Year 1996 1995* 1995*
- ---------------------------------------------- ------------------------------- --------------------------------
<S> <C> <C>
Total revenues $ 9,166 $14,870
Operating expenses 10,760 13,698
Income (loss) before taxes (1,109) 1,625
Net income (loss) (698) 1,023
Earnings (loss) per share (0.06) 0.08
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<FN>
* The first and second quarters of fiscal 1996 have been restated from
originally reported amounts as disclosed below.
</TABLE>
<TABLE>
<CAPTION>
Per the Quarter Ended
----------------------------------------------------------------
September 30, December 31,
Fiscal Year 1996 - As Previously Reported 1995 1995
- ---------------------------------------------- ------------------------------- --------------------------------
<S> <C> <C>
Total revenues $10,126 $13,910
Operating expenses 10,072 13,410
Income before taxes 539 953
Net income 340 600
Earnings per share 0.03 0.05
- ---------------------------------------------- ------------------------------- --------------------------------
</TABLE>
Publication of restatements may result in the initiation of
litigation. The Company is unable to predict whether litigation will be
initiated against the Company, its officers or its directors, nor is it able
to predict the outcome or the range of potential loss, if any, which may
result if such litigation is initiated.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Datalogix International Inc.
Dated: September 26, 1996 By: /s/ Raymond Sozzi
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Name: Raymond Sozzi
Title: President and Chief
Operating Officer
